If you’re panicking, it means that you’ve invested more than you can afford to lose


I’ve noticed yesterday in the Daily Discussion thread that lots and lots of people were panicking and saying stuff like “omg we going to 20k” and all that. This correction was about 20% to Bitcoin and 30-40% to altcoins. This, generally speaking, isn’t a lot, we had the May correction, which was about 60% to Bitcoin only and 70-80% to altcoins. These are the times when people are losing their money. The fear and greed index is showing 21 now, which is referred to as “Extreme Fear”. Yesterday we had 27, and the day before yesterday we were in a neutral area with 50. As the website says, when everyone is in fear, you should be buying and when the people are greedy, we are due for a correction. This makes sense if you think about it.

Also, I just can’t stand all these people giving financial advice out there. Most of the people that give financial advice in this subreddit don’t know anything. The people that are giving out negative predictions or news are just being downvoted, which is not fair. I get that everyone wants green days and all that, but we cannot have that.

If you are panicking, you have just invested more than you can afford to lose and that is rule number one in crypto. Rethink your choices.

submitted by /u/loveyoustink
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